Fisher Asset Management LLC Acquires 16,662 Shares of Zscaler, Inc. $ZS

Fisher Asset Management LLC increased its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 25.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 81,299 shares of the company’s stock after acquiring an additional 16,662 shares during the period. Fisher Asset Management LLC’s holdings in Zscaler were worth $24,362,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Westpac Banking Corp increased its position in Zscaler by 919.0% in the 3rd quarter. Westpac Banking Corp now owns 9,986 shares of the company’s stock valued at $2,992,000 after acquiring an additional 9,006 shares in the last quarter. VestGen Advisors LLC bought a new stake in shares of Zscaler during the second quarter valued at approximately $1,592,000. Mackenzie Financial Corp increased its holdings in shares of Zscaler by 133.6% in the second quarter. Mackenzie Financial Corp now owns 14,780 shares of the company’s stock valued at $4,640,000 after purchasing an additional 8,454 shares in the last quarter. Schroder Investment Management Group lifted its holdings in Zscaler by 11.5% during the 2nd quarter. Schroder Investment Management Group now owns 164,061 shares of the company’s stock worth $51,505,000 after buying an additional 16,868 shares in the last quarter. Finally, Ensign Peak Advisors Inc boosted its position in Zscaler by 9.9% in the 2nd quarter. Ensign Peak Advisors Inc now owns 395,391 shares of the company’s stock valued at $124,129,000 after buying an additional 35,770 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Key Headlines Impacting Zscaler

Here are the key news stories impacting Zscaler this week:

• Positive Sentiment: Wells Fargo initiated coverage with an “Overweight” rating and a $200 price target, giving the stock meaningful upside from current levels. Zscaler receives Overweight rating as Wells Fargo initiates coverage
• Positive Sentiment: Reported FQ2 2026 results topped estimates: revenue ~$816M (+26% YoY), ARR growth ~25% to ~$3.4B, and EPS ahead of consensus — management set FY26 EPS guidance (3.99–4.02). These fundamentals support renewed investor confidence. Zscaler (ZS) Reports Record FQ2 2026 Revenue Driven by Massive Enterprise Adoption
• Positive Sentiment: Strategic AI and partner initiatives: Zscaler and Bharti Airtel launched a national AI & Cyber Threat Research Center in India to accelerate AI‑driven security research and talent development, and Zscaler expanded AI/security platform integrations with TCS (AI‑driven workspace platform). These deals deepen enterprise reach in high‑growth markets. Zscaler Airtel AI Research Hub Tests Growth Potential Versus Rising Losses TCS, Zscaler launch AI-driven workspace platform for enterprises
• Positive Sentiment: Market commentary highlights Zscaler as oversold and potentially a rebound candidate given strong secular cybersecurity demand and institutional accumulation — this narrative can attract value/technical buyers. 2 Bad News Buys: Why Palo Alto and Zscaler Are Screaming Deals
• Neutral Sentiment: Investor interest/flow signals and options activity are drawing attention (coverage and “whale” option trades), which can amplify moves but are not a directional fundamental change. This Is What Whales Are Betting On Zscaler
• Neutral Sentiment: Zscaler presented at the Morgan Stanley TMT conference — useful for incremental investor color but no single headline change from the event. Zscaler Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript
• Negative Sentiment: Numerous sell‑side firms have trimmed price targets recently (Morgan Stanley, Mizuho, RBC, BMO, Piper Sandler, Needham, Oppenheimer, etc.), signaling more cautious near‑term analyst sentiment despite some buy/overweight calls — this broad re‑rating is a headwind for the stock. Mizuho Cuts Zscaler Price Target (example of broader cuts)

Zscaler Stock Performance

Shares of NASDAQ:ZS opened at $154.67 on Wednesday. The firm’s 50 day simple moving average is $195.76 and its 200 day simple moving average is $253.19. Zscaler, Inc. has a fifty-two week low of $140.56 and a fifty-two week high of $336.99. The company has a market capitalization of $24.87 billion, a price-to-earnings ratio of -368.26, a P/E/G ratio of 210.65 and a beta of 1.07. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.90 and a quick ratio of 1.90.

Zscaler (NASDAQ:ZS) last issued its earnings results on Thursday, February 26th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.89 by $0.12. The firm had revenue of $815.75 million during the quarter, compared to the consensus estimate of $798.92 million. Zscaler had a negative net margin of 2.25% and a positive return on equity of 0.06%. The business’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 earnings per share. Zscaler has set its Q3 2026 guidance at 1.000-1.010 EPS and its FY 2026 guidance at 3.990-4.020 EPS. As a group, sell-side analysts forecast that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Insider Activity

In other news, CEO Jagtar Singh Chaudhry sold 2,843 shares of Zscaler stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $230.82, for a total transaction of $656,221.26. Following the transaction, the chief executive officer owned 347,857 shares in the company, valued at $80,292,352.74. The trade was a 0.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert Schlossman sold 3,084 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $230.82, for a total value of $711,848.88. Following the completion of the transaction, the insider owned 77,002 shares of the company’s stock, valued at $17,773,601.64. This represents a 3.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 19,350 shares of company stock valued at $4,471,509. Company insiders own 17.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ZS. Stifel Nicolaus dropped their target price on Zscaler from $330.00 to $320.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Sanford C. Bernstein raised Zscaler from a “market perform” rating to an “outperform” rating and set a $228.00 price objective for the company in a report on Friday, February 13th. Robert W. Baird cut their target price on shares of Zscaler from $360.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, February 23rd. Truist Financial lowered their price target on shares of Zscaler from $350.00 to $250.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Finally, Morgan Stanley dropped their price target on shares of Zscaler from $305.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $267.92.

Zscaler Company Profile

Zscaler is a cloud security company that delivers a cloud-native platform to protect users, applications and data as organizations move away from traditional, network-centric security architectures. The company focuses on a zero trust approach that assumes no implicit trust for users or devices, providing secure access to the internet, SaaS applications and private applications regardless of where users are located. Zscaler positions its services as an alternative to legacy appliances and site-centric VPNs, aiming to simplify security while enabling modern, distributed workforces.

Key offerings are built around the Zscaler Zero Trust Exchange, a multi-tenant cloud platform that enforces security and access policies in-line.